{"id":8530,"date":"2022-03-29T09:00:54","date_gmt":"2022-03-29T16:00:54","guid":{"rendered":"https:\/\/blog.neighbor.com\/storage-blog\/?p=8530"},"modified":"2024-06-24T08:48:31","modified_gmt":"2024-06-24T15:48:31","slug":"moving-to-san-diego","status":"publish","type":"post","link":"https:\/\/www.neighbor.com\/storage-blog\/moving-to-san-diego\/","title":{"rendered":"Moving to San Diego: Everything You Need to Know"},"content":{"rendered":"\n

Sunshine-seekers flock to San Diego for its weather, beaches, and quality of life, which include a wide variety of outdoor activities, entertainment, nightlife, and more. The overarching county gained 200,000 residents over the past decade, according to the most recent Census, while the city of San Diego’s population grew more than 8% in that time, making it the third-fastest growing city in California.<\/p>\n

While San Diego is an expensive, largely car-dependent place to live, it’s beloved by residents for its diversity, healthy job market, and its famously laid-back culture.<\/p>\n

If you’re looking to make a new home for yourself in “America’s Finest City<\/a>,” read along for our all-inclusive guide to moving to San Diego.<\/p>\n

Things to Know About Moving to San Diego<\/h1>\n

San Diego lies in the southwesternmost region of the country, spanning 70 miles of coastline on the North Pacific Ocean. It’s home to the first permanent Spanish settlement in California, which is why historians consider it the birthplace of the entire state.<\/p>\n

Population<\/h2>\n

San Diego is the eighth largest city in the U.S. and the second-largest in California. At the time of the 2020 census, its population was almost 1.4 million. The city sits atop deep canyons that segment its neighborhoods into pockets of flat space, called mesas. These hilly divides make San Diego more spread out than similarly-sized cities.<\/p>\n

The broader San Diego County is even more sprawling. It’s home to nearly 3.3 million people (making it the 17th most populous county in the U.S.), encompassing Southwestern California between Riverside and Orange Counties and the southern U.S. border, north of Tijuana. \"\"<\/p>\n

Cost of living<\/h2>\n

San Diego is pricey, ranking among other major California cities (like San Francisco<\/a>, Los Angeles<\/a>, and San Jose) as one of the most expensive places to live in the U.S. The scalding-hot housing market and a competitive job market with a wide variety of well-paying positions both contribute to San Diego being a high-cost city.<\/p>\n

San Diego’s consumer price index rose 8.2% between 2021 and 2022<\/a> (compared to about 7.5 nationally<\/a>), due in part to the economic impacts of the COVID-19 pandemic.<\/p>\n

According to GOBankingRates<\/a>, you need to make $137,826 a year to live comfortably (meaning you’re spending 50% of your money on necessities, saving 20% of it, and spending 30% recreationally) in San Diego if you’re a homeowner, and $120,786 if you’re renting.<\/p>\n

But if you’re just trying to scrape by, an MIT study<\/a> calculated the living wage income for a childless adult to be $44,229. As of 2020, San Diego county rent consumed about two thirds of average wages<\/a> — the eighth highest rate out of major counties in the country.<\/p>\n

Median household income<\/h3>\n

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According to Census data, the median household income in San Diego proper is similar to that of the overarching county. As shown, both figures are well north of the national median household income.<\/p>\n

Cost of living comparison<\/h3>\n

Here’s how San Diego’s cost of living measures up against other American cities.<\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n
<\/td>\nHousing<\/td>\nFood and Groceries<\/td>\nTransportation<\/td>\nHealthcare<\/td>\n<\/tr>\n
City<\/td>\n% higher or lower than national average<\/td>\n% higher or lower than national average<\/td>\n% higher or lower than national average<\/td>\n% higher or lower than national average<\/td>\n<\/tr>\n
San Diego<\/b><\/strong><\/td>\n179.1% higher<\/b><\/strong><\/td>\n9.7% higher<\/b><\/strong><\/td>\n20.2% higher<\/b><\/strong><\/td>\n11% lower<\/b><\/strong><\/td>\n<\/tr>\n
Los Angeles<\/td>\n73.3% higher<\/td>\n4.1% higher<\/td>\n65.3% higher<\/td>\n10.6% higher<\/td>\n<\/tr>\n
San Francisco<\/td>\n469.2% higher<\/td>\n16.6% higher<\/td>\n58.2% higher<\/td>\n14.9% higher<\/td>\n<\/tr>\n
New York City<\/td>\n194.3% higher<\/td>\n16.6% higher<\/td>\n81.1% higher<\/td>\n27.6% higher<\/td>\n<\/tr>\n
Chicago<\/td>\n0.9% lower<\/td>\n2.8% lower<\/td>\n38.5% higher<\/td>\n12% lower<\/td>\n<\/tr>\n
Phoenix, AZ<\/td>\n3.5% higher<\/td>\n2.7% lower<\/td>\n17.9% higher<\/td>\n7.5% lower<\/td>\n<\/tr>\n
Orlando, FL<\/td>\n6.1% higher<\/td>\n0.7% higher<\/td>\n10.1% higher<\/td>\n3.4% higher<\/td>\n<\/tr>\n
Houston, TX<\/td>\n19.8% lower<\/td>\n1.9% lower<\/td>\n19% higher<\/td>\n4.9% lower<\/td>\n<\/tr>\n
Oklahoma City<\/td>\n43.8% lower<\/td>\n5.3% lower<\/td>\n4.5% lower<\/td>\n6.2% higher<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

*Percentages shown as higher or lower than the national average cost as of March 2022.<\/i><\/em><\/p>\n

Compare San Diego’s cost of living to your current city’s using this online calculator<\/a>.<\/p>\n

Should you rent or buy a home in San Diego?<\/h3>\n

As with anywhere else, the age-old rent vs. buy conundrum comes down to your financial situation and long-term plans. It’s worth noting that San Diego’s typical home value has recently skyrocketed to more than $918,000<\/a> (up almost 25% from last year).<\/p>\n

Home prices are also rising faster than rents in the county. According to one study of U.S. Housing Markets, renting in San Diego is usually the cheaper option<\/a>. Buying, however, comes with the long-term advantage of investing in property that can appreciate over time.<\/p>\n

Average rental prices in San Diego<\/h3>\n

Rents in San Diego have been following national trends, steadily rising for years. They are currently up nearly 18% from<\/a> February 2021.<\/p>\n

\"Average<\/p>\n

If you’re looking for rental units, here are the median rates you can expect (though exact prices will vary by neighborhood).<\/p>\n\n\n\n\n\n\n
Studio apartment<\/td>\n$1,850<\/td>\n<\/tr>\n
1-bedroom apartment<\/td>\n$2,300<\/td>\n<\/tr>\n
2-bedroom apartment<\/td>\n$3,050<\/td>\n<\/tr>\n
3-bedroom apartment<\/td>\n$3,900<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

Prices accurate as of March 2022. Source: Zumper.com<\/i><\/em><\/p>\n

While rents are high, the city was recently awarded more than $8 million by the federal government to offer housing stability and assistance<\/a> to low income households and residents financially impacted by the COVID-19 pandemic. San Diegans who’ve applied and meet eligibility criteria can receive funds for unpaid rental debt they’ve accrued since April of 2020, as well as past-due utilities.<\/p>\n

Average home prices in San Diego<\/h3>\n

San Diego is a sellers’ market. Low inventory, surging demand, and low mortgage rates catapulted the county’s median home sales price to $740,000 in 2021<\/a>, which is a 17.3% increase from the year before. That’s almost twice as expensive as the national median home price, which is about $374,900<\/a>.<\/p>\n

\"Average<\/p>\n

The market is red hot, and prices are likely to continue rising. According to one estimate, San Diego trails only Phoenix as the hottest real estate market in the nation<\/a>.<\/p>\n

Economy<\/h2>\n

The San Diego metro area has a GDP of about $240 billion. That’s the fourth largest in California, and it also ranks among the top 20 nationally.<\/p>\n

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As of January 2022, San Diego’s unemployment rate was 4.2%, just slightly higher than the national rate of 4%. Unemployment in San Diego, like much of the country, is trending downward as pandemic recovery continues.<\/p>\n

Major industries<\/h3>\n

San Diego has an eclectic economy influenced by its military presence, proximity to the ocean, and, yes, great weather. Its largest industries include:<\/p>\n

Defense and military<\/b><\/strong>. San Diego has the country’s largest concentration of military personnel. The region is home to more than 143,000 active duty service members — about 8% of the country’s military population — across Naval facilities, Marine Corps bases, and U.S. Coast Guard stations.<\/p>\n

Because of this, some of the country’s biggest aerospace and defense contractors loom large in San Diego. This includes Lockheed Martin, Northrop Grumman, and General Dynamics. According to a 2021 economic impact study<\/a>, the military creates 23% of the region’s jobs and contributed $55.2 billion to San Diego’s gross regional product.<\/p>\n

Tourism. <\/b><\/strong>Warm weather and miles of coastline make San Diego a huge tourist destination. Thanks in part to attractions like the San Diego Zoo, SeaWorld, and LEGOLAND, Its tourism industry supports 194,000 jobs and generates almost $18 billion in economic impact.<\/p>\n

International Trade. <\/b><\/strong>San Diego’s proximity to the Pacific Ocean and U.S.-Mexico border makes it perfectly situated for international commerce. The Port of San Diego spans 34 miles of waterfront and provides more than 44,000 jobs.<\/p>\n

Manufacturing. <\/b><\/strong>San Diego is home to more than 3,000 manufacturing companies, which offer more than 110,000 jobs in industries spanning from defense and aerospace to craft beer, sports equipment, and more.<\/p>\n

Biotech. <\/b><\/strong>San Diego is home to research institutes, universities, and pharmaceutical companies that make it a thriving life science market — generating about $41 billion in economic activity<\/a>. Its biotech sector provides 27,095 jobs with average annual wages of $107,824, and the University of California San Diego produces the largest number of biotech graduates in the state.<\/p>\n

Diversity<\/h2>\n

San Diego is becoming increasingly diverse and multiethnic.<\/p>\n

According to the most recent Census data, San Diego County is:<\/p>\n